Mizrahi-Tefahot Bank is one of Israel’s four largest banks. The Bank offers its private and commercial banking customers in Israel and around the world an extensive range of financial products and services at the highest professional level.
The combination between commercial and mortgage activities, provided by “Tefahot”, Israel’s No. 1 mortgage brand, enable the Bank’s customers to benefit from attractive mortgages, a wide range of financial products and services and the affinity between them.
The Mizrahi Tefahot Group operates 166 branches and business centers in Israel and around the world, through which it offers its customers a broad spectrum of banking products and financial services that provide a comprehensive range of solutions to its customers’ changing needs and special characteristics. In addition to the branch operations, the Bank offers sophisticated and advanced direct banking services via the internet, telephone, or cell phone. Standard & Poor’s Ma’alot, The Israel Credit Rating Company, has rated the Bank’s obligations at AA+. Eli Yones serves as CEO and Moshe Vidman serves as Chairman of the Board of Directors.
Mizrahi Tefahot provides “comprehensive service” at the highest level to the household and private customer sectors, offering a range of unique products and services, enabling them to manage their financial affairs simply and cost-effectively. These services include advanced account management services with attractive commission rates, credit facilities at advantageous interest rates, various mortgages, and loans for any purpose, and a variety of rewarding investment options.
The Bank provides high net worth individuals with personal and professional services, which are tailored to meet their own particular requirements.
Mizrahi Tefahot “Hybrid Banking”
Mizrahi Tefahot is characterized by its unique products and services that provide added value to customers. Just recently, the Bank launched its “Hybrid” banking revolution, a new and unique concept that offers the ultimate combination between services offered by personal bankers and digital banking. Only customers of Mizrahi-Tefahot can directly contact their personal banker, using a variety of channels, with maximum availability, during extended working hours and from anywhere in the world.
Mizrahi-Tefahot is a mortgage lender in Israel, through “Tefahot” the largest and leading mortgage brand in Israel, with a market share of more than one third of the domestic market. The combination between commercial retail activities and mortgage activities creates a “positive link” between checking accounts and mortgage loans, enabling customers of the Bank to utilize unique products and services that are a direct result of the link between these two activities.
Control of Bank Yahav
The Mizrahi-Tefahot Group includes Bank Yahav, of which the Bank has a 50% holding. Bank Yahav was for many years a niche bank serving government and public sector employees. The Bank now offers banking services to all retail customers. As part of the cooperation within the group, Mizrahi has opened “Tefahot” mortgage desks in the main branches of Bank Yahav.
Corporate Banking and Trading Rooms
Mizrahi-Tefahot provides a wide range of products and services to the corporate sector.
The Corporate Division and the Regional Business Centers throughout the country, offer corporate and business customers personal and professional services, tailored to each corporation or business needs according to size and nature.
Mizrahi Tefahot operates a sophisticated and advanced trading room and offers its private and business customers a wide range of foreign currency, financial instruments and capital markets operations, activities where the bank has a market share much larger than its relative size.
The Bank has subsidiaries in Switzerland and the Netherlands, and branches and representative offices in the UK, the US, Germany, Mexico, Uruguay and Panama. Mizrahi-Tefahot is the first Israeli bank to link its Israeli and global foreign trading rooms into one synchronized floor.
Investment and Pension Advisory Services
The professional investment advisors of Mizrahi-Tefahot provide personal advisory services to suit the customer’s specific needs. In addition, the Bank provides objective advanced pension advisory services to both self-employed and salaried employees.
Labor Agreement Ensuring Industrial Quiet until 2015
Mizrahi-Tefahot enjoys good labor relations and internal work environment, thus enabling full focus on its business plan. Management and the employees’ representatives have signed a labor agreement ensuring industrial quiet until the end of 2015. The agreement also includes a voluntary retirement plan for 200 employees, enabling the Bank to continue to improve efficiencies regarding the size and quality of the work force.
As a community orientated business, Mizrahi-Tefahot is deeply committed to contributing to the community. The Bank has taken a strategic decision to shift from a policy of donations to active social involvement. Currently, the majority of the Bank’s branches and head office units actively cooperate with associations and organizations that work with children having special needs.
Mizrahi Bank Ltd. (today Mizrahi Tefahot Bank Ltd.) was established in 1923 by the World Mizrahi Movement. In 1963, the Bank went public
and its shares began trading on the Tel Aviv Stock Exchange. In 1995, a privatization process began, under which the Wertheim and Ofer Groups acquired 26.0% of the shares. In 1997, the Groups increased their Bank holdings. As of December 2012, the two groups held 48% of the Bank’s shares, with the remainder of the shares being held by the public.